While previous papers have characterized various features of the financial contracts between entrepreneurs and venture capitalists, little is known about how the equity contracts evolve over the life of new ventures. Using the novel data set containing financial contract terms applying to...

How do singular landmark M&A deals with seemingly excessive valuation and high public visibility influence M&A markets? We analyze how M&A market activity and deal characteristics behave in the presence of these landmark deals. Our results show that both valuation levels and M&A activity are...